CRYPTONAIRE
WEEKLY CRYPTO investment journal
CONTENTS WEEKLY CRYPTOCURRENCY MARKET ANALYSIS...............................................................................................................5 CRYPTO TRADE OPPORTUNITIES...............................................................................................................................................7 PRESS RELEASE ..................................................................................................................................................................................13 CONSOLIDATING THE FRAGMENTED MUSIC INDUSTRY – BEATBIND.................................................................13 KAIKEN INU IS A BRAND NEW GEM YOU SHOULDN’T MISS.....................................................................................15 GAIN PROTOCOL HAS SKYROCKETED 27X IN LESS THAN 24 HOURS POST COINGECKO LISTING......17 WORLD MOBILE TOKEN LTD LOOKS TO RAISE $40M IN CARDANO-BASED NATIVE TOKEN SALE........20 ADVERTISE WITH US........................................................................................................................................................................22 Global Bitcoin ATM Installation Shoots Past 24,000 In 2021.......................................................................................23 Goldman Sachs Files for 'DeFi' ETF Tied to Public Companies.................................................................................25 HOW TO GET STARTED AND INVEST WITH WEREWOLF NFT – COMPLETE GUIDE .........................................................26
Tesla reports record $1B income for Q2 despite $23M impairment loss on BTC ...............................................31 JPMorgan Allowing All of its Retail Wealth Clients Access to Five Cryptocurrency Products ........................33 FERRUM NETWORK UNLOCKING DECENTRALIZED FINANCIAL OPPORTUNITIES..............................................................34
Shopify to Allow Merchants to Sell NFTs Directly Through Their Stores................................................................39 Tether (USDT) faces criminal probe in the US ...................................................................................................................41 Amazon denies rumored plans for Bitcoin support ........................................................................................................42 World Economic Forum Outlines Speed of Cardano, XRP, Solana, Celo, Alogrand and Stellar Lumens ..44 Binance to Cease Crypto Margin Trading on Sterling, Euro, Australian Dollar.....................................................46 Jack Dorsey Calls Bitcoin a 'Big Part' of Twitter's Future as a Global Currency...................................................47
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Editor’s Letter
The crypto markets extended their decline on Monday due to the broad-based risk-off sentiment across assets, which saw the Dow Jones Industrial Average plummet 725.81 points, its worst fall since last October. The increase in Covid-19 cases in many parts of the world due to the delta variant was touted as one of the several reasons for the flight to safety. Jeffrey Gundlach, CEO of investment management firm DoubleLine Capital, said in a CNBC interview recently that Bitcoin has formed a head and shoulders pattern that “looks pretty convincing.” Gundlach expects Bitcoin to correct to $23,000.
OUR BLOG ARTICLES FOR THIS SPECIAL ISSUE ARE HOW TO GET STARTED AND INVEST WITH WEREWOLF NFT – COMPLETE GUIDE & FERRUM NETWORK UNLOCKING DECENTRALIZED FINANCIAL OPPORTUNITIES We had mentioned in our previous analysis that the possibility of a fall is greater and that is what happened. Bitcoin broke below the £23,620 support on July 15, indicating that bears have overpowered the bulls. The bulls tried to push the price back above £23,620 on July 18 but failed. This may have attracted further selling and the bears will now try to capitalize on the weak sentiment by pulling the price below £21,000. If they succeed, the BTC/GBP pair will complete a bearish descending triangle pattern. This negative setup could start the next leg of the downtrend, which may reach £15,000. The downsloping moving averages and the relative strength index (RSI) in the negative territory indicate the path of least resistance is to the downside. However, the bulls may not surrender the £21,000 to £20,000 support zone easily and will try to defend it. A strong rebound will indicate accumulation at lower levels. The bulls will have to push the price above the downtrend line to signal a trend change. As the trend is negative, traders may remain on the sidelines until a bottom is confirmed. Pre-empting a bottom could quickly result in a loss. Lastly please check out the advancement’s happening in the cryptocurrency world.
Co-Founder, CEO & Editor-in-Chief
Enjoy the issue!
Cryptonaire Weekly | July 27th 2021
Karnav Shah
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CRYPTONAIRE WEEKLY After mentoring thousands of crypto traders around the globe, we have culminated all of the consistent and ongoing requirements of crypto-traders into one place. Our Cryptonaire Weekly magazine includes expert technical analysis, providing trading opportunities to our subscribers as well as fundamental analysis so our readers can keep up to speed with the current developments in the crypto markets. Not only do we provide the information necessary to trade active cryptocurrencies on the exchanges, but we also take a look at ICOs to help you find those golden projects with real value! No longer will you have to rely on multiple sources to keep on top of the markets, we deliver everything directly to your inbox each and every week.
Featuring in this weeks Edition: - Koji - Kaiken - Gain Protocol - Werewolf - The Coop Network - BeatBind - Ferrum Network - World Mobile Token - Zumo
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WEEKLY CRYPTOCURRENCY MARKET ANALYSIS Hello, welcome to this week’s 192nd edition of Cryptonaire Weekly Magazine. The global crypto market cap is $1.45 Trillion, up $250 billion since the last week. The total crypto market trading volume over the last 24 hours has increased by 26.23% to $113.12 Billion. The DeFi volume is $11.96 Billion, 10.58% of the entire crypto market’s 24-hour trading volume. The volume of all stable coins is $92.93 Billion, 82.15% of the total crypto market’s 24-hour trading volume. Bitcoin’s price has increased 23.49% from $29,800 last week to around $36,800 and Ether’s price has increased 24.86% from $1,750 last week to $2,185. Bitcoin's market cap is $692 Billion and the altcoin market cap is $758 Billion. The crypto markets extended their decline on Monday due to the broad-based risk-off sentiment across assets, which saw the Dow Jones Industrial Average plummet 725.81 points, its worst fall since last October. The increase in Covid-19 cases in many parts of the world due to the delta variant was touted as one of the several reasons for the flight to safety . Jeffrey Gundlach, CEO of investment management firm DoubleLine Capital, said in a CNBC interview recently that Bitcoin has formed a head and shoulders pattern that “looks pretty convincing.” Gundlach expects Bitcoin to correct to $23,000. Another bearish voice was that of billionaire Hamish Douglass, co-founder of Magellan. He called cryptocurrencies “one of the greatest irrationalities” and added that crypto will plunge to zero when other speculative bubbles burst. “I can’t tell you when that will happen by the way. It could happen shortly, it could happen quite some time into the future ... I think when we look back in 20 years it will be the case study of the irrationality,” said Douglass per Financial Review. On the other end of the spectrum is billionaire Tim Draper. In an interview with Benzinga, Draper doubled down on his earlier
Percentage of Total Market Capitalization (Dominance)
Bitcoin
47.52%
Ethereum
17.04%
Tether
4.97%
Binance Coin
3.79%
Cardano
2.88%
XRP
2.14%
USD Coin
2.07%
Dogecoin
1.72%
Polkadot
0.89%
Binance USD
0.89%
Others
17.16%
prediction and said “I stand by my prediction. $250k per bitcoin by end of 2022 or early 2023. In another long-term positive, Grayscale CEO Michael Sonnenshein said on CNBC on July 19 that a Bitcoin US exchange-traded fund would soon receive regulatory approval. He said it was only a matter of “when” and “not if.” Cryptonaire Weekly | July 27th 2021
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CRYPTO TRADE OPPORTUNITIES BITCOIN - BTC/GBP
We had mentioned in our previous analysis that the possibility of a fall is greater and that is what happened. Bitcoin broke below the £23,620 support on July 15, indicating that bears have overpowered the bulls. The bulls tried to push the price back above £23,620 on July 18 but failed. This may have attracted further selling and the bears will now try to capitalize on the weak sentiment by pulling the price below £21,000. If they succeed, the BTC/GBP pair will complete a bearish descending triangle pattern. This negative setup could start the next leg of the downtrend, which may reach £15,000. The downsloping moving averages and the relative strength index (RSI) in the negative territory indicate the path of least resistance is to the downside. However, the bulls may not surrender the £21,000 to £20,000 support zone easily and will try to defend it. A strong rebound will indicate accumulation at lower levels. The bulls will have to push the price above the downtrend line to signal a trend change. As the trend is negative, traders may remain on the sidelines until a bottom is confirmed. Pre-empting a bottom could quickly result in a loss.
Cryptonaire Weekly | July 27th 2021
Previous Analysis...
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ETHEREUM - ETH/GBP
Our assumption of a decline to £1,216.19 in Ether, as enumerated in the previous analysis, has also played out. If the bearish momentum pulls the price below £1,216.19, the descending triangle pattern will complete. This bearish setup could attract further selling and the ETH/GBP pair may slide down to psychological support at £1,000. If this support also cracks, the decline could extend to £800. The downsloping moving averages and the RSI below 35 suggest that bears are in command. Even if the price rebounds off £1,216.19, the bulls will have to push the price above the downtrend line to signal a trend change. If that does not happen, the bears will again try to sink the pair below £1,216.19. As the trend is down, we suggest traders avoid catching a falling knife. It is prudent to wait for a bottom to be confirmed before initiating a fresh long position.
Previous Analysis...
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RIPPLE - XRP/GBP
XRP has continued its downward march, indicating a lack of buying from bulls. The downsloping moving averages and the RSI near the oversold territory suggest the path of least resistance is to the downside. If bears sink and sustain the price below the critical support at £0.3668, the XRP/GBP pair could slide to the £0.25 to £0.28 support zone. The deeper the fall, the longer it will take for the pair to stage a recovery. Contrary to this assumption, if the price rebounds off £0.3668, the bulls will again try to propel the pair above the 20-day EMA. If they succeed, it will suggest that sellers are losing their grip. Conversely, if the price again turns down from the 20-day EMA, the possibility of a further downside increases.
Previous Analysis...
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CARDANO - ADA/GBP
The failure of the bulls to push the price above the 50-day SMA attracted profit-booking from shortterm traders. That pulled the price below the 20-day EMA on July 8. Thereafter, the bears aggressively defended the 20-day EMA, attracting further selling. The ADA/ GBP pair is on target to drop to the critical support at £0.71. This support has not been breached on a closing basis since February 25. Therefore, if bears sink and sustain the price below £0.71, long liquidation may occur as bulls rush to the exit. That could clear the path for a decline to £0.50. The downsloping moving averages and the RSI in the oversold territory indicate that the path of least resistance is to the downside. This negative view will invalidate if the price rebounds off £0.71.
Previous Analysis...
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BINANCE - BNB/GBP
We had highlighted in our previous analysis that if bulls fail to push the price above the 50-day SMA soon, short-term traders may dump their positions and that is what happened. Binance Coin turned down on July 19 and has started its journey toward critical support at £160. The bears have not been able to pull and sustain the price below this support since March 1, hence the bulls are likely to defend it aggressively. If bulls fail to push the price above the downtrend line, the bears will fancy their chances. A break and close below £160 will complete a bearish descending triangle pattern. That could clear the path for a further decline to the psychological support at £100 and then to £80. This negative view will invalidate if the bulls push and sustain the BNB/GBP pair above the 50-day SMA.
Previous Analysis...
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PRESS RELEASE CONSOLIDATING THE FRAGMENTED MUSIC INDUSTRY – BEATBIND
BeatBind is providing token holders and existing partners with updated information and the status of the project launch. BeatBind is the world’s first decentralized blockchain event organization and talent auction platform that will allow artists and venues to focus only on providing unforgettable experiences to their fanbase. We aim to connect three key players in music event. coordination: venue owners, performers, and fans. Our innovative solution will be supported with BBND, a universal cryptocurrency token for the music industry. BeatBind intends to solve music event related problems through the development of its Platform and wider event organization ecosystem. The key idea is to allow all participants in the ecosystem to efficiently connect and interact. BeatBind will capitalize on the high demand for the best artists, organizers, and venues and increase artist booking rates significantly using various auction models. BeatBind will give rising artists more opportunities both locally and globally. Furthermore, fans will be able to directly purchase tickets from organizers of all events created on BeatBind, preventing fraud, forgery, and ticket scalping.
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BeatBind will offer a new creative solution for concerts, festivals, and exclusive parties. As the Platform scales, barriers of entry will be lowered significantly for all parties. And finally, BBND as the official utility token will capture a significant part of the new value, which will be created for the first time in the world on BeatBind. BeatBind has no limitations in terms of niche restrictions or seasonality. The business model can be expanded, and the technology easily adapted, to include numerous other sectors related to event organization. Currently, there are five big event categories relevant for the early expansion of BeatBind. Cumulatively, the total current estimated valuation of BeatBind’s addressable market exceeds $30B. BeatBind initially will target, address, and improve multiple categories of the music event space, all through its innovative and disruptive platform and ecosystem. BeatBind is developing a multi-stage business model with each level being foundational and accretive to the following platform level, to tackle each of the industry’s four prevailing issues with the creation of BeatBidder, BeatBuy, BeatX, BeatAI. The Platform will give an incentive in BBND for every user referred to the Platform, as well as a percentage of all proceeds that the referee generated for BeatBind. In the earliest phases post-launch, there will also be an unconditional bonus in BBND for all users of the BeatBind Platform. Syed Akash CTO of BeatBind stated “We will innovate quickly and disrupt the entertainment industry by creating a layered platform that will remove the word fragmented from this space.” Discussing Beatbind’s practical utility for musicians and event organisers, CEO Platinum Crypto Academy and Editor in Chief at Cryptonaire Weekly Mr Karnav Shah asserts: “Projects that aim to provide practical utility leveraging blockchain technology to simplify rather complex and expensive business processes tend to be at the forefront in the long run. Beatbind’s solution provides value for the prominent stakeholders in the multi-billion dollar music industry. There is no doubt that Beatbind will bring about shapeshifting changes – it’s only a matter of time. We are very pleased to introduce our readers and Platinum Crypto Academy’s members to this highly promising project.” BeatBind listed on July 7, 2021 with www.STEX.com
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KAIKEN INU IS A BRAND NEW GEM YOU SHOULDN’T MISS
Your chance to become a millionaire is here! KaiKen Inu is soon going to set the crypto world on fire through its new ICO launch. With bigger, better, and stronger ICO features than ever before, it aims to create whales by rewarding holders generously. But what is KaiKen Inu? Let’s find out!
ABOUT KAIKEN INU KaiKen Inu is a Dog Token with a smart stalking system. It is a community-driven, Defi token; the value of which depends on the community’s support. It aims to provide a single platform for investors having different interests. Dog Farm. This will be an LP farming pool. Kaiken INU can be paired with Eth, USDT and other stable coins to farm more Kaiken INU. Kaiken INU will also partner with other tokens for staking. There will also be a single currency staking and will probably earn kaiken inu or other tokens.
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Dog House. Dog House will be another limited token that when paired with Kaiken Inu in the Dog Farm, it will double the staking power. Crypto Puppies. This will be another token that can be earned through staking Kaiken INU with other tokens. These crypto puppies will either become NFTs that can be traded or to be used as a character for Dog Games. Dog Food. This will be bought to feed the Crypto Puppies. Dog Vitamins. This will be another token that will provide nutrition to the crypto puppies. Dog Games. This will be our biggest offering for our investors. We will partner with a real gaming company to develop our strategic games featuring our kaiken inu dog as the main character of the game Kai Ecosystem. This is a single platform that will house the entire feature of the project. We believe that PCA will be our main motor that drives our project to where we wanted it to be and to showcase to everyone whom we hope to show to. They exactly have the muscle we need to bring our vision for our community into reality. Together, we can deliver our most anticipated offering across the masses, reaching every corners of all borders and introducing everyone to the world of decentralization” From Kaiken CEO aka Coinsniper Decoding KaiKen for readers, CEO Platinum Crypto Academy and Editor in Chief at Cryptonaire Weekly Mr Karnav Shah explained: “ KaiKen Inu is a refreshing project. It is more than just a typical self-rewarding autonomous yield liquidity generation protocol. It is an entire ecosystem, robust, versatile and full of exciting features. Most importantly, the anti-dump feature provides ultimate security to investors and ensures fair play. We look forward to releasing more about this promising Defi project soon.”
WHAT MAKES KAIKEN INU TOKEN DIFFERENT FROM OTHER DOG TOKENS? KaiKen Inu’sfully packed features and anti-dump implementation are two things that make it different from other dog tokens. Want to buy KaiKen Inu tokens? Head to the page and unleash the millionaire within you! Website: kaikeninu.net
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GAIN PROTOCOL HAS SKYROCKETED 27X IN LESS THAN 24 HOURS POST COINGECKO LISTING
Gain Protocol is a fully decentralized finance ecosystem that puts holders first. Through static rewards and massive sweepstakes opportunities, Gain Protocol puts the power in the hands of the people. Decentralized Finance (DeFi) is growing at a breathtaking pace. In the sea of new projects and ICOs, finding quality projects that users can trust has become a big challenge for space. Gain Protocol is the next generation of DeFi projects putting transparency and honesty at the heart of every feature. Static rewards models certainly aren’t anything new, but Gain Protocol’s approach that puts community first certainly is. Behind the project is a host of smart contracts that run all the great features of Gain Protocol. These immutable functions add to the stability and reliability of Gain Protocol. Moreover, with third-party audits from trusted names in DeFi, like SolidityFinance, the team is taking extra steps to build holder trust.
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The project also is top-rated among other DeFi ICOs on ICOmarks.com, putting Gain Protocol head and shoulders above similar projects. The project has elements of the community-driven ethos in almost every feature. From Whale Protection that prevents huge sell-offs from massive account holders to managing future public token sales equitably and fairly, Gain Protocol aims to provide holders with an easier and stress-free way to trade. What sets Gain Protocol apart from other similar DeFi projects is the commitment to community. This mission permeates all the features and functions of Gain Protocol. Every smart contract feature serves one purpose — putting more GAIN in holder wallets.
Nathan Vaknin, Creator and Operational Leader at Gain Protocol, says the project is venturing into “unknown territory” but that Gain Protocol is “building a decentralized finance ecosystem like no other and we are happy to be featured on Platinum Crypto Academy in our goal to shift the power of earnings to the people.” Vaknin further adds that Gain Protocol’s “extremely unique and innovative features…solves many of the issues within the decentralized finance space.”
For Vaknin, “a new era” of DeFi “has been created.” He states that “everything we do generates passive income for holders. The first ecosystem truly designed for the people.”
Without a doubt, Gain Protocol is redefining paradigms that surround investing and DeFi. Not only can holders earn massive amounts of passive income, but the project motivates engagement that further grows Gain Protocol and holder rewards simultaneously. Interaction not only benefits holders but also helps grow the value of the native GAIN token. *Whale Protection: Large token holders can damage token value when they decide to sell. Gain Protocol’s Whale Protection adds a sliding fee system for large sales of GAIN. Once the value hits 2% of total locked liquidity, sellers face stiffer fees. The added fees go straight to holder wallets. *Static Rewards: Gain Protocol’s approach to static rewards distribution provides holders with massive daily passive income opportunities. Seller fees fill the rewards pool, meaning every transaction on Gain Protocol puts GAIN in holder wallets. *Dynamic Liquidity: Liquidity is an essential component of most DeFi projects. Gain Protocol’s unique approach to liquidity pools (LPs) upgrades the model and alleviates many pain points that limit other systems. The smart contract sends excess liquidity to our sweepstakes protocol rather than laying stagnant in a company wallet. Cryptonaire Weekly | July 27th 2021
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*Sweepstakes Protocol: Gain Protocol wants to give holders as many opportunities to win as possible. With our daily sweepstakes drawings, holders have a chance at scoring through one of the seven unique drawing types. GAIN for sweepstakes comes from both buyer fees and excess GAIN funneled from the dynamic LP. *Toro Rounds: With our exclusive Toro Rounds, smart contracts handle future public token sales with the goal of doubling the value of GAIN during each round. Every user has an equal chance to purchase GAIN at a fair price, no special treatment here. We also place restrictions on selling GAIN purchased during Toro Rounds for the week following sales. This helps stabilize price following each Toro Round. The team has also developed an intricate schedule of upcoming features to grow the project further. All features are laid out in a publicly available timeline. All future decisions will be in the hands of the community to better create a project for the people by the people. Additionally, Gain Protocol’s dedication system means developers have a vested interest in growing the project and making each and every feature of Gain Protocol the best possible. This ensures a mutual goal of long-term project success for both the internal development team and everyday users. Commenting on the potential of the Gain Protocol project CEO Platinum Crypto Academy and Editor in Chief at Cryptonaire Weekly Mr Karnav Shah said: “Gain Protocol is uniquely suited due to it’s 7 protocols that provide gains through static rewards, crypto trading best practices and feature seven different Sweepstakes type variations. Gain Protocol is here to maximize benefits with comprehensive strategies that actually work for the end user. We are pleased to discuss this important project and hope to share more about its journey in the coming weeks.” To learn more about Gain Protocol and for further information on all the features, please visit https:// www.gainprotocol.com.
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WORLD MOBILE TOKEN LTD LOOKS TO RAISE $40M IN CARDANO-BASED NATIVE TOKEN SALE
World Mobile Token Ltd, which is enabling a new global mobile network built on the sharing economy, announces the launch of its utility-based World Mobile Token (WMT) on the Cardano blockchain. The company aims to raise 40 million USD within the first five weeks of the public sale on top of the 5 million USD it has raised privately. The sale started on July 5 and will close on August 16 at 11 a.m. UTC. Tokens can be purchased with ADA, BNB (BEP2), BTC, DAI (ERC20), or ETH.
TOKEN SALE TIMELINE AND NUMBER OF TOKENS AVAILABLE PER PERSON, PER PURCHASE: – June 15, 20:00 UTC: Open vault creation & KYC
– Aug. 2, 11 a.m. UTC: Week 4, $1M
– July 4, 11 a.m. UTC: Reserve WMT and enter queue
– Aug. 9, 11 a.m. UTC: Week 5, $2M
– July 5, 11 a.m. UTC: Sale opens! Week 0, $2K
– Aug. 16, 11 a.m. UTC: Sale closes
– July 12, 11 a.m. UTC: Week 1, $100K – July 19, 11 a.m. UTC: Week 2, $250K – July 26, 11 a.m. UTC: Week 3, $500K Cryptonaire Weekly | July 27th 2021
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Globally 1.7 billion adults remain unbanked, according to the World Bank. Despite many of the technological advancements many of us take for granted, most traditional banks require a manual onboarding process and rely on credit bureaus to verify client identity. These manual, in-person procedures deny many demographics from basic services, such as the ability to open an account, apply for a loan and mortgage, or obtain access to other financial opportunities. The World Mobile Network aims to bring sustainable connectivity to communities, in Africa and beyond, through the WMT sharing economy. The company sells affordable network nodes to local business owners and implements blockchain-based digital IDs, in turn empowering the African continent with greater economic freedom, digital inclusion, blockchain adoption, and connection to the Internet. The World Mobile Network already operates in East Africa. Starting with Tanzania and Kenya, the company aims to bring sustainable connectivity to communities through the sharing economy. WMT will power the World Mobile Network ecosystem, allowing World Mobile Network users access to digital banking, healthcare, digital identification, and educational institutions. “Our vision is to connect as many people as possible,” says RJ Katunda, CXO Africa at World Mobile Token LTD. “Everyone should have access to the Internet. It’s a fundamental human right. The right to access. Connectivity is a primary asset and it can be realised in a very short period of time.” Discussing the World Mobile Token Project, CEO Platinum Crypto Academy and Editor in Chief at Cryptonaire Weekly Mr Karnav Shah says “It’s rare you come across a project that explores wider utilities of the blockchain technology, hybrid spectrum, renewable energy for building a mesh network. We are truly excited to share the World Mobile Token Sale and explain its fundamentals to our readers. The World Mobile Network aims to bring sustainable connectivity to communities, in Africa and beyond, through the WMT sharing economy. We are certain that we will have more about this promising venture and WMT Sale in our subsequent edition of Cryptoniare weekly.”
ABOUT WORLD MOBILE TOKEN World Mobile Token powers the World Mobile Network, a global mobile network built on blockchain and the sharing economy. With nearly 4 billion people left offline, digital exclusion is a significant problem. Many people still have question marks on their minds when it comes to adequate knowledge about NFTs. There are very few people out there who have used the right words and phrases to describe the mechanism of NFTs, which is also the reason why people are still afraid to tokenize their artistic creations. There is so much on YouTube and in the form of articles on the internet, but very few people have explained it the way it should be. Unlike traditional telecom operators, the World Mobile Network is run by the people for the people, so anyone can become a network operator and share the rewards. Together with IOHK, World Mobile and the World Mobile Token will deliver a revolutionary scalable network in Africa and beyond. World Mobile Token believes in digital inclusion, self-data governance, environmental sustainability, decentralised identity, and financial empowerment for all. To find out more visit: www.worldmobiletoken.com Cryptonaire Weekly | July 27th 2021
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ADVANCEMENTS IN THE CRYPTOCURRENCY WORLD Global Bitcoin ATM Installation Shoots Past 24,000 In 2021
This year has seen a sharp increase in the number of crypto automated teller machines (ATMs) installed worldwide. Data from Coin ATM Radar shows that crypto ATM installation has increased by more than 70% to over 24,000 this year.
Over 10,000 Crypto ATMs Installed In 2021 No less than 10,000 new crypto ATMs have been installed this year alone, surpassing the 7,620 added in 2020, per Coin ATM Radar. These crypto ATMs are being installed at a speed of roughly 52.3 ATMs per day. At press time, the crypto ATM tracker reported a total of 24,004 crypto ATMs globally. This represents a 71.73% growth from the 13,993 crypto machines earlier this year. The US takes the lead for the country with the most installations, according to the report. There are over 21,161 ATMs in the US alone. Canada closely follows the US with 1,698 locations and the UK with 174 locations. Read more...
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Goldman Sachs Files for 'DeFi' ETF Tied to Public Companies
The Goldman Sachs Innovate DeFi and Blockchain Equity ETF is more traditional than the proposed crypto ETFs. Goldman Sachs is a major traditional investment bank. It's filed for a DeFi fund that is like traditional ETFs. Investment bank Goldman Sachs has edged toward Ethereum and decentralized finance (DeFi) in recent months. According to a filing today with the Securities and Exchange Commission (SEC), it's ready to offer an exchange-traded fund (ETF) linked to companies in the sector. The Goldman Sachs Innovate DeFi and Blockchain Equity ETF will provide investors with exposure to companies "aligned with the themes" of blockchain technology and the "digitalization of finance," says the bank. An ETF is an investment product that tracks an asset or group of assets and can be traded like stock on traditional exchanges. While the SEC has a backlog of applications for Bitcoin ETFs—which would give investors access to BTC without having to store and secure the digital asset themselves—the regulator has yet to approve such a fund. Read more...
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HOW TO GET STARTED AND INVEST WITH WEREWOLF NFT – COMPLETE GUIDE
Non-fungible Tokens (NFTs) are a remarkable use case of revolutionary blockchain technology. While the idea has been there, NFTs shot to popularity in early 2021, with Beeple’s $69 million sales at Christie’s. That sale was a breakthrough, and the event grabbed the eyeballs of crypto-savvy investors from across the globe. However, once NFTs started making headlines, we got to learn about the value proposition of these rather different applications of blockchain. As the name suggests, a distinguishing feature of the NFTs is that they are non-fungible. It means there cannot be a duplicate token, and each NFT is unique in its capacity. The Werewolf Project, which is popular for its native decentralised exchange that deploys Automated Market Mechanisms (AMMs), has a dedicated platform for Werewolf NFTs, namely Alpha, Beta, and Omega.
OVERVIEW OF THE WEREWOLF NFT Werewolf cuts through the noise. It has created a refreshing Werewolf theme-based unique ecosystem where one can benefit from investing in Defi. Following the launch of their proprietary design NFTs, users can also purchase different types of exciting “Werewolf NFTs” directly on the platform. In the initial days, the Werewolf exchange’s NFT tokens gained immense popularity that continues to surge. In this article, let’s take a deep dive and see what makes them one of the best NFT projects on the market. Cryptonaire Weekly | July 27th 2021
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Werewolf NFTs are a unique set of non-fungible assets. These are ERC-721 standard tokens built leveraging Ethereum’s network. As the Werewolf exchange is planning to add exciting gamification features to its already popular Defi exchange, the non-fungible crypto assets will be used for the gamification on the platform. The NFT tokens are classified into three different categories: the Alpha, Beta, and the Omega Werewolf tokens. The three different classes of Werewolf NFT crypto-assets represent the different canine attributes. These assets are thematic and reflect the overall ethos of the Werewolf ecosystem design. Representing mythical creatures, the Werewolf exchange itself is designed based on the exciting werewolf theme. As such, the NFTs on the platform are an extension of the Werewolf characterization. The NFT tokens are listed and available for purchase using the Werewolf exchange’s native cryptocurrency, the WWC tokens that were released earlier in January this year.
WHICH THREE NFT TOKEN TYPES ARE AVAILABLE ON THE WEREWOLF DECENTRALISED EXCHANGE? There are three different kinds of Werewolf NFTs available on the platform. These non-fungible assets can be directly purchased using the WWC tokens or WOLF Tokens on the platform. While we will be discussing in detail the steps to purchase Werewolf NFTs in the subsequent section, here’s a brief of the three different types of tokens listed on the Werewolf platform: 1.The Alpha Non-Fungible Assets: The most distinguishing non-fungible on the Werewolf exchange is the Alpha class of NFT tokens. Alpha has distinct features and is amongst the most dangerous types of “Werewolf.” What characterizes Alpha Werewolf is that they have big shiny red eyes and are the most ferocious of all other Werewolves. Additionally, in their canine form, the Alpha Werewolves are bigger than their Beta and Omega counterparts. On some rare occasions, unlike the other werewolves, Alpha werewolves can also transform into real wolves. They can also take any other shape. Once the Alpha starts changing its shape and form, its eyes glow red. These types of werewolves have a remarkable spark of power that allows them advanced abilities to change forms. They are also the most capable in terms of individual strength and can have supernatural abilities. The special characteristics peculiar to Alpha werewolf are power absorption, pain transference, full moon power enhancement, mind-melding, telepathy, resistance to cold and silver damage, amongst others. The top and the most powerful NFT asset on the Werewolf platform, Alpha always marks its presence. They have their territory. It is so designed that the total number of Alpha on the platform will be equal to the total number of territories that exist on the planet. Alpha NFTs can be bought using the native tokens, the WWC. 2.The Beta Non-Fungible Assets: The Beta NFT assets are the second most powerful non-fungible asset type on the platform only after Alpha. They are the ones that will follow the Alpha werewolves. While the Beta werewolves are powerful and ferocious, they are not as savage as the Alpha. Their strength is slightly lower than the Alpha but more than Omega werewolves, who are the third on the list of non-fungible assets on the Werewolf exchange. The distinguishing features of the beta werewolves
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are that they are the most common types and represent the main members of the pack. Contrary to the Alpha, who have glowing red eyes, the Beta werewolves are different with golden eyes. On the Werewolf platform, like the Alpha, the beta werewolves will also be born in separate territories that are assigned to the Alpha werewolves. However, one Alpha werewolf will be leading various Beta werewolves. The power structure of the werewolves is exciting, though. All different types have some of the other distinguishing power that only belongs to their pack. For example, Beta will have powers that are not found in the Alpha. While Alpha is stronger, Beta does command some different powers like Superhuman stamina and Superhuman endurance, rage enhancement and extraordinary Superhuman leaping, amongst others. Beta non-fungible assets can be bought using WOLF tokens. 3.The Omega Non-Fungible Assets: On the Werewolf platform, the Omega non-fungible assets are on the lower end of the hierarchybut their lower rank does not let you undermine the power of the Omega werewolves. What makes Omega werewolves separate from the Alpha and Beta werewolves is that they don’t form a part of the pack that comprises Alpha and Beta werewolves. Also, one of the ways to differentiate the Omega shapeshifters from Alpha and Beta is that the Omega shapeshifters’ eyes will glow steel blue instead of red and golden in the case of Alpha and Beta, respectively. As the Omegas are not members of a pack, they are comparatively weaker as they don’t receive power from symbiotic balance from each other when in a pack. On the platform, the Omega werewolves can be survivors of a pack’s destruction, or they can be alone, depending on their choice. Another interesting characteristic of the Omega werewolves is that they are humanoid carnivores. They are more like predators, and they look like a wolf with long, sharp claws, and fangs which grow and are enhanced once these werewolves are excited.
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Because the Omegas are discarded in the Werewolves’ societies, they are always in search of a community and keep trying to be a part of a pack. Though weaker than their Alpha and Beta counterparts, one must remember that these are still werewolves and command significant power. Though these types have minimum “pack sense”, they are still intuitive and can sense when a werewolf of higher-order like Alpha is nearby. Another feature that separates them from Beta werewolves on the platform is that they are not assigned a particular Alpha territory.
STEPS TO PURCHASE WEREWOLF NFT The Werewolf NFTs are available on the Werewolf exchange, and anyone can purchase the most promising and one of the best NFT tokens on the market. However, the werewolf NFTs can be bought using the Werewolf (WWC) tokens Or WOLF Tokens (WOLF). The Werewolf Defi ecosystem has two different tokens apart from the three different types of non-fungible assets. Here’s how you can get the Werewolf tokens (WWC) necessary to purchase the Werewolf NFT.
Step 1: Purchase Werewolf Tokens (Wolf Tokens) The first step to getting started with the Werewolf Defi exchange is to purchase the native WOLF tokens. To purchase the WOLF tokens, visit the Werewolf exchange. Once on the exchange app, you will have to connect your Metamask wallet to the Werewolf Defi interface. Remember, if you don’t have a Metamask wallet, please create one before visiting the Werewolf exchange platform. Because the Werewolf Defi is Ethereum based, you’ll have to deposit Eth coins to purchase the WOLF tokens to get started. Once you have successfully deposited ETH on the Werewolf exchange wallet by connecting to Metamask, you can select BUY Wolf Token. Once you’ve purchased the WOLF tokens, you’ll get a transaction confirmation, following which your WOLF tokens will be transferred to your wallet address.
Step 2: Stake Tokens on the Dedicated Werewolf Pools The Werewolf exchange platform yield farming protocol for staking which they call the Full Moon pools. Full Moon pools are exclusive staking pools and are hosted as an event from time to time that mimic lunar cycles on the Werewolf exchange staking platform. All WOLF token owners can participate in the pools and stake to earn rewards. To stake in the Moon Pools, you’ll have to visit the Werewolf exchange. Once on the exchange platform, select the Stake menu. You’ll be asked to enter the amount of WOLF tokens you want to stake in a pool. You can fill in the amount and wait for the transaction confirmation. Once confirmed, you can start staking WOLF tokens on the Moonpool of your choice.
Step 3: Getting Werewolf Tokens (WWC) Once you have deposited Ethereum to purchase WOLF tokens by connecting your Metamask to the Werewolf exchange, you can participate in the native Werewolf moon pools. After staking in the moon pools on the Werewolf platform, you’ll be able to see your WWC tokens in the same pool. ON full moon, once the pool gets over, you can withdraw your WWC tokens. The WWC tokens have multiple utilities within the Werewolf ecosystem, including purchasing NFTs. They are also fully tradable. You can earn more WWC tokens if you invest early in the next moon pools. Cryptonaire Weekly | July 27th 2021
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Now that you have purchased the Werewolf Tokens (WWC) buying, Werewolf NFTs is easy. You can visit the Werewolf platform and click on the NFT menu. From there, select Born/Start and then select the NFT type [Alpha/Beta/Omega Werewolf]. Once you’ve chosen the NFT type, you can lock it by pressing the Confirm button and proceed further. In the next step, select the region or the territory you want your Werewolf NFT asset to belong to. Once selected, choose a name for your Werewolf NFT asset. Once the approval and minting process is complete, you’ll be the unique owner of your Werewolf NFT. Remember, you’ll need the Werewolf Tokens (WWC tokens) to buy Alpha Werewolf and WOLF tokens to buy your Beta or Omega NFT assets on the Werewolf platform.
WEREWOLF NFT RAFFLE – A QUICK AND EASY WAY TO RAISE FUNDS! Recently, Werewolf launched their NFT Raffle program. The main idea behind the NFT raffle program is to provide users with limited investment capacity the opportunity to own high-value assets like NFT. Because one cannot afford to buy a high value NFT, the Werewolf NFT Raffle program allows users to participate in pools by collectively financing. A smart contract’s pseudo-random algorithm selects the winners of the Werewolf’s NFT raffle program. The raffle program also allows other NFTs to raise funds by listing themselves on the platform. “An NFT holder can go on the platform and create its own NFT Raffle Pool by entering required details about NFT like Token Contract Address, Token ID, NFT value, Raffle ticket price and Competition end date etc. At the time of creating the raffle pool, NFT will be transferred in the smart contract and staked until the raffle pool creator sets the end time,” the Werewolf team said in a recent announcement. The raffle competition design is simple. Participants buy lottery tickets and enter the draw; the competition creator decides a fixed price for the tickets; the algorithm decides the winner, and then the pool amount is automatically exchanged for the staked NFT. The process provides liquidity to the creator and gives a unique opportunity for participants to own high-value non-fungible assets.
CONCLUSION The Werewolf NFTs are exciting and unique. They can be bought using the WWC token, which you earn as you stake in their highly rewarding Moon pools. The more you stake and the earlier you do, the more WWC tokens you can earn on the platform. The Werewolf line of NFTs is highly intuitive, and you can even customize your “Werewolf Non-fungible Asset” by selecting a name of your choice. While the Alpha is the most powerful, don’t let the “power” factor keep you from exploring the Beta and Omega wolves. They have their magical powers. Stake more and gain more to claim more and more territory. Start staking today to get the WWC tokens and become a proud owner of your Alpha Werewolf with transformative powers!.
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Tesla reports record $1B income for Q2 despite $23M impairment loss on BTC
Tesla’s latest earnings report showed that the firm conducted no digital asset purchases or sales in Q2, but reported an impairment loss of $23 million on its BTC holdings. Electric vehicle and clean energy firm, Tesla, has reported $1.14 billion in net income for the second quarter. The firm’s July 26 earnings report showed that total revenue grew by 98% year on year (YOY) for Q2, increasing from $6 billion in 2020 to $11.9 billion this year. Tesla attributed the bulk of its growth to a surge in demand for its electric vehicles, stating:
“In the second quarter of 2021, we broke new and notable records. We produced and delivered over 200,000 vehicles, achieved an operating margin of 11.0%, and exceeded $1B of GAAP net income for the first time in our history.” The firm also generated quarterly profits of $1.02 per share. The firm stated that total revenue was partially offset by growth in operating expenses and a Bitcoinrelated impairment loss of $23 million. As Tesla holds its Bitcoin as an “intangible asset,” accounting rules mandate that the firm must report an impairment loss when the asset’s price drops below its cost basis. However, Tesla is not required to report pricappreciations in the underlying asset until the position is realized through a sale. Read more...
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JPMorgan Allowing All of its Retail Wealth Clients Access to Five Cryptocurrency Products
These clients include those looking for investment advice, ultra-rich, those using the bank’s commission-free trading app, and those whose assets are managed by the bank itself. Banking giant JPMorgan Chase & Co has started to allow all of its wealth management clients access to crypto funds, reported Business Insider on Thursday, citing sources. According to the report, this move applies to all clients looking for investment advice, including ultra-rich, those using its commission-free trading app, and those whose assets are managed by the bank itself. Interestingly, with this move, JPMorgan has become the first major bank to allow its clients access to crypto, while back in 2017, its CEO Jamie Dimon called Bitcoin a “fraud” and threatened to fire its employees who traded the cryptocurrency. Now, the bank has told its financial advisers in a memo earlier this week to take buy and sell orders from its clients for five crypto products, effective July 19. Four of such products are from Grayscale Investments, and one from Osprey Funds, said the report. These funds include Grayscale’s Bitcoin Trust (GBTC), Ethereum Trust (ETHE), Bitcoin Cash Trust (BCHG), and Ethereum Classic vehicles (ETCG), along with Osprey Fund’s Bitcoin Trust. Read more...
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FERRUM NETWORK UNLOCKING DECENTRALIZED FINANCIAL OPPORTUNITIES
The Defi market is exploding. In the past 18 months, it has grown by over 300% on its continued upward trajectory. The number of active wallets interacting with Defi protocols has also risen sharply. With Ethereum 2.0 on the way, it is expected that the growth will only accentuate further. With major conventional financial bodies and their intermediaries acknowledging the power of Defi and bigger hedge funds already actively endorsing Defi protocols, there is no doubt that Defi has all the potential to reshape the world of finance. However, the internal struggle is real and there are pertinent barriers to mass adoption. Among the projects tackling these very issues is Ferrum Network, a juggernaut project with a mission to make Defi accessible by removing blockchain utility barriers.
WHAT IS FERRUM NETWORK? Ferrum is a decentralized finance (Defi) ecosystem that is built to provide advanced solutions using cross-chain interoperability and ultra-fast transaction processing. Ferrum has a line of products offering to help both individual and retail traders and businesses who would want to leverage blockchain technology and tap into the world of Defi. It offers an ingenious Unifyre wallet, which is a non-custodial and private dApp serving the crypto public at large. Main services that Ferrum network provides are Pre-Sales support to new Defi projects, The Foundry (Incubator), White-Label Staking as a Service (SaaS), ground breaking Anti-Bot Launch System Technology, and White-Label Token Bridge service. Cryptonaire Weekly | July 27th 2021
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The Ferrum Network Utility Token (FRM) is the platform’s native token powering the entire Ferrum ecosystem. It’s governance Token (FRMx) provides additional benefits to the token holders. Ferrum Network’s products have been developed as a result of addressing the problems that have been massively impacting the mainstream adoption of Defi. In this article, we will take a deep dive into the various products offered by the Ferrum network, learn about the exclusive Defi solutions they provide and introduce you to Ferrum’s range of exciting offerings.
HOW DOES FERRUM INTEGRATE WITH THE DEFI ECOSYSTEM? Ferrum leverages a directed acyclic graph (DAG)-based protocol to support high volume transactions at lightning-fast speeds. Facilitating interoperability, the network allows seamless communication between different blockchain networks. It helps users make ultra-fast cross-chain transfers of a range of digital assets. The practical utility for traders and those operating within Defi ecosystems is that the Ferrum Network makes non-custodial crypto trading and token exchanges inexpensive and fast. Once a transfer is initiated on the Ferrum Network, it automatically creates a “proxy asset” of the actual digital assets. A lock address is generated that holds the same amount of the digital asset which is then burned and the full value is redeemed. The process mirrors the advanced faster transaction processing facility provided by conventional PSPs but in a decentralized manner and with higher levels of security, transparency and is super-fast. Ferrum is an anchor which binds multiple blockchains together and allows seamless cross-chain interactions.
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A LOOK AT FERRUM’S PRIMARY PRODUCTS Ferrum Network has multiple products all aimed at providing real-world practical solutions and making Defi accessible and profitable to all.
– Ferrum Network Cross-chain Bridge: Recently, Ferrum Network launched its advanced native cross-chain bridge with a mission to make Defi more accessible to all. Ferrum’s cross-chain bridge solves multiple issues that users and the Defi community are facing with the first-generation crosschain token bridges. Typical cross-chain token bridges are mostly open only to large-cap projects and the new and upcoming projects struggle to leverage the advantages of a cross-chain bridge. Ferrum’s cross-chain token bridge is open-to-all and caters to smaller and mid-cap initiatives and also to enterprise-level projects. Further, the usability of typical token bridges is cringy because of the complex UI that serves as more of a deterrent than a facilitator. Ferrum has actively focussed on UX to create a platform that’s user-friendly and also user-driven. Regardless of one’s familiarity with Defi, FerrumNetwork’s token bridge can be used by anyone including newbies and enthusiasts and seasoned pros. The biggest advantage of Ferrum Network’s token bridge is users don’t have to rely on any third party to manage their liquidity. It is a truly trustless solution. By eliminating the involvement of third parties, the Ferrum network provides users with added security and lower costs.
– Unifyre Wallet: The complexity of using cryptocurrency wallets keeps many investors and traders from getting started with their cryptocurrency journey. The Ferrum Network identifies it as one of the biggest roadblocks in the mass adoption of cryptocurrencies and decentralized financial services. The UniFyre wallet is Ferrum’s solution to the problem. It leverages the Link Drop technology which eliminates the need of remembering wallet addresses and verifying every time if they have fed the numerical correctly when initiating payments. UniFyre, allows users to simply send payments and transfer digital assets directly by simply using a link. It could be anything from an email, text message, or any chat or social media app. The wallet app is already listed and available to download on Apple App Store and Google Play. One of the biggest advantages of using Ferrum Network’s Unifyre wallet is that even if users lose their operating device, they don’t lose control of their assets. Not to mention that it has already become a hit amongst cryptocurrency users and has seen over 10,000 active downloads since launch. The wallet also supports advanced features and allows users to get access to services like Staking and other profitable Defi protocols. In short, it is also a user’s gateway to make money from crypto holding by leveraging their parked crypto assets.
– The Anti-Bot Service: As the popularity of Defi protocols is touching new heights, scammers are also coming up with new ways to dig a hole in the pockets of crypto investors. One of the biggest challenges Defi projects face after listing their newly minted tokens on Uniswap is to keep it safe from Bots. Bots are used to purchase liquidity which consequently pushes the prices. Once the prices are manipulated, these particularly designed bots start dumping the acquired tokens raking in investors
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money. The problem is bots are quicker and advanced and they can quickly identify opportunities to purchase the tokens at their lowest price. Ferrum Network provides an advanced anti-bot service to protect investors and new crypto projects from bot-attacks and price manipulation.
– Staking as a Service (SaaS): Staking cryptocurrency tokens is one of the most popular and profitable ways to increase your crypto assets. Ferrum Network provides seamless staking services and allows users and token owners to delegate their crypto holdings and generate a passive income by staking on a range of different Proof of Stake (PoS) blockchains. Ferrum Network’s Staking-as-aService (SaaS) model makes it easy for any cryptocurrency investor to simply stake ERC-20, BEP-20, as well as Polygon based, tokens and unlock yield earning potential. It eliminates the need of finding dedicated validators for different networks and then sending their tokens to different staking wallet addresses to get started with earning staking rewards. As an all-in-one solution, even newbies can start staking with Ferrum. While the APY depends on the network and the asset, near 100% uptime provided ensures Ferrum Network delegators consistently get the best returns on their staked assets.
– The Foundry (Incubator): Defi has inspired many innovative minds, thus, more and more projects are cropping up. However, many promising projects struggle to fund themselves and also don’t have access to the wider crypto community to market their ideas and innovative solutions. The industry is nascent and the launchpads and incubator platforms face multiple challenges including community management, effective strategies, finding matching technology and innovation development to name a few. Ferrum Network capitalizes on a decentralized fundraising model that has guaranteed pre-sales services eliminating the need for First come First Serve mentality. The project has successfully partnered with top liquidity providers in the industry. Beyond funding, Ferrum Network also supports projects with intellectual capital and a pre-built dedicated Defi community actively looking to be a part of the next moonshot. The Foundry incubator is built in conjunction with DuckDAO and provides end-to-end solutions for new blockchain-based projects.
WHY USE FERRUM NETWORK? The reasons are exhaustive. Whether you’re a cryptocurrency enthusiast with a brilliant project idea, a casual investor or a player, a cryptocurrency trader, Ferrum’s ecosystem has something for all. What makes Ferrum stand out is the fact that all its products are developed considering user/investor pain points and the needs of blockchain startups. The services offered are without any hiccups and highly cost-effective.
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Be it creating the first fiat-to-crypto exchange in West Africa or providing users access to advanced wallet options, Ferrum is making advances in the right direction. Their non-custodial UnyFire Wallet thwarts accidents due to human errors while making payments. Ferrum is also dedicated to helping Blockchain projects with innovative ideas raise liquidity and in ability to excel in the market. Its Foundry incubator can be a gamechanger in helping blockchain projects launch themselves and promote their project to a dedicated crypto-community. To investors, it would also mean getting access to early opportunities to invest in the most promising upcoming projects. Most importantly, the Ferrum Network is a powerful gateway to Defi and cryptocurrency investments. Actively forging new partnerships, Ferrum is delivering to fulfill the promise of crypto mainstreaming.
CONCLUSION Ferrum Network is a consortium of Defi products and services, each one of them offers practical solutions to the ecosystem’s stakeholders. The pace at which the market is growing leaves no doubt about the future of Defi. The utility of Ferrum Network and its top-of-the-line products will only increase and create more value with time. Their USP is creating tailored solutions that are precise and offer real practical value and come at a fraction of the cost. If you’re a Defi enthusiast, a crypto newbie, a geek looking to launch your project or someone who wants to trade and generate a passive income from crypto investments, you’ll always find something useful on the Ferrum Network.
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Shopify to Allow Merchants to Sell NFTs Directly Through Their Stores
One of the first Shopify merchants to offer NFTs will be the NBA’s Chicago Bulls. Shopify President Harvey Finkelstein announced Monday that his company is now allowing merchants on its platform to sell NFTs directly to their customers. In his tweets making the announcement, Finkelstein noted that before Shopify’s move, its merchants would have to sell NFTs through a third-party marketplace, forcing them to relinquish control of the sale and the customer relationship. “Once again we are putting the power back into the hands of merchants and meeting customers how and where they want to buy,” Finkelstein said. One of the first Shopify merchants to offer NFTs will be the NBA’s Chicago Bulls, which launched an NFT “Legacy Collection” on Monday featuring the franchise’s six world championship rings. Shopify powers the e-commerce sites of over 1.7 million businesses around the world. The company’s decision therefore potentially opens up NFTs to much wider adoption. Read more...
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Tether (USDT) faces criminal probe in the US, report says
According to undisclosed sources, Tether executives are facing a criminal probe into bank fraud. Tether (USDT) FUD surrounding the stablecoin’s issuance could have a new chapter in the form of criminal charges, which would mark a major development in the US government’s crackdown on crypto. The US Department of Justice (DoJ) investigation is focused on conduct that occurred years ago, scrutinizing whether Tether failed to disclose to banks that transactions were linked to crypto, according to the Bloomberg report that cited three people with direct knowledge of the matter, without revealing their identity.
Criminal probe into bank fraud According to one of Bloomberg‘s sources, a decision on whether to bring a case could be made soon, with senior officials finally determining whether charges are warranted, as in recent months, individuals received letters alerting them that they’re targets of the investigation. While the DoJ declined to comment, Tether stated its commitment to cooperation and transparency, commenting it “routinely has an open dialogue with law enforcement agencies, including the DoJ,” the report read. Read more...
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Amazon denies rumored plans for Bitcoin support
Despite rejecting rumors the e-commerce giant will soon support Bitcoin payments, a spokesperson for Amazon has said the firm is still interested in the crypto space. Amazon has refuted recent speculation it may be readying to support Bitcoin payments, asserting it currently has no plans for BTC. According to a Reuters report on July 27 citing a spokesperson from the firm, Amazon remains interested in the crypto industry but has no specific plans to onboard digital assets for payments just yet:
“Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true.” However, the spokesperson did not deny that Amazon is researching crypto payments, adding: “We remain focused on exploring what this could look like for customers shopping on Amazon.” On July 22, Amazon posted a job opening for a digital currency and blockchain product lead. Four days later, London’s City A.M. newspaper ran a story citing an “insider” who claimed Amazon was “definitely” preparing to support Bitcoin payments and launch a native token — igniting frenzied anticipation for Amazon's purported crypto plans. Chinese crypto media outlet, Wu Blockchain, attributed Amazon’s rumored plans to Monday’s surging market action — during which Bitcoin gained roughly 15% in less than three hours amid a violent squeeze that drove more than $110 million in liquidations. Read more...
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World Economic Forum Outlines Speed of Cardano, XRP, Solana, Celo, Alogrand and Stellar Lumens
The World Economic Forum (WEF) is outlining the speeds at which several crypto assets, including Cardano, XRP, Solana, Celo, Alogrand and Stellar Lumens, can process transactions. In its recently published community paper, the Swiss-based international organization for publicprivate cooperation looks at smart contract platform Cardano (ADA) and provides details on the number of transactions it can process per second. Cardano is an open-source PoS (proof-of-stake) blockchain network and smart contract platform that aims to provide multiple features through layered design and modularity. It allows for 257 transactions per second.” Next on the WEF’s list is XRP and its global open-source blockchain, the XRP Ledger (XRPL). “XRP boasts 1,500 transactions per second, costs $0.0003 per transaction and settles in three seconds.” The WEF is also outlining the throughput and infrastructure of Ethereum competitor Solana (SOL), describing it as a proof-of-stake blockchain network designed for mainstream adoption. Read more...
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Binance to Cease Crypto Margin Trading on Sterling, Euro, Australian Dollar
The announcement comes hours after CEO Changpeng Zhao tweeted that Binance was reducing the maximum leverage users can use to trade futures contracts. Binance is set to stop its crypto margin trading involving sterling, the euro and Australian dollar, as the world’s large cryptocurrency exchange seeks to stave off a widespread regulatory backlash against some of its services. Starting Aug. 10, Binance Margin will suspend borrowing for its GBP, EUR and AUD pairs and major cryptocurrencies including bitcoin (BTC, -4.63%), ether (ETH, -7.43%) and Binance coin, an announcement Monday said. Binance will conduct automatic settlement, cancel pending orders and delist all affected pairs by Aug. 12. The announcement comes only hours after CEO Changpeng Zhao tweeted that Binance was reducing the maximum leverage users can use to trade futures contracts from 100x to 20x, following the lead of fellow exchange FTX. Binance has been the target of a string of warnings and denouncements from financial regulators the world over in recent weeks, including those of the U.K., Japan, Italy and Thailand. Read more...
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Jack Dorsey Calls Bitcoin a 'Big Part' of Twitter's Future as a Global Currency
Twitter CEO Jack Dorsey says that bitcoin will be a big part of the company’s future. “If the Internet has a native currency, a global currency, we are able to move so much faster with products such as Super Follows, Commerce, Subscriptions, Tip Jar, and we can reach every single person on the planet,” he said.
Bitcoin Set to Be a Big Part of Twitter Twitter announced its quarterly earnings Thursday that beat analysts’ forecasts. During the company’s Q2 earnings call, CEO Jack Dorsey said that bitcoin would be a “big part” of the company’s future. Dorsey said during the call: “There are three trends relevant to Twitter and you, our shareholders: AI, decentralization, and the Internet finally having access to a global native currency in bitcoin. All these will help us do our jobs better, and we intend to lead the way in each.” During the Q&A part of the call, Douglass Anmuth, an analyst with JPMorgan Chase & Co., asked Dorsey about how he sees bitcoin becoming more integrated into Twitter, particularly around some of the newer products like Super Follows and Spaces, and how they can drive both engagement and monetization for Twitter over time. “I’ve been tweeting and talking a lot about Bitcoin,” Dorsey replied. “Focusing on the use case of the Internet having native currency and that bitcoin probably is the best, actually known to be the best candidate for that role, that’s what I think we should really focus on.” Read more...
Cryptonaire Weekly | July 27th 2021
47
+44 (0) 207 193 2931
CRYPTONAIRE
WEEKLY CRYPTO investment journal
Cryptonaire Weekly | July 27th 2021
48
+44 (0) 207 193 2931